ALISO VIEJO, Calif., June 8, 2005 (PRIMEZONE) -- GTREX Capital, Inc. (OTCBB:GRXI) and its operating subsidiary Global Travel Exchange, Inc., a leading provider of direct access travel distribution technology, announced the signing of a master service agreement with Pegasus Solutions, Inc., a global provider of hotel reservations-related services and technology which trades on the Nasdaq exchange. Under the terms of the agreement, Global Travel Exchange will provide its customers direct access to Pegasus' hotel inventory, thereby expanding Global Travel Exchange's product offerings and enabling Pegasus to enhance its distribution using OpenTravel Alliance (OTA) standards supported by Global Travel Exchange.
"In pursuing our strategy to become the most effective channel between customer and supplier, we are pleased to initiate this relationship with Pegasus and offer our customers access to better choices for hotel inventory. Greater choice will increase the revenue potential for Global Travel Exchange by increasing the number of transactions booked through our system," commented Christopher Berlandier, President of GTREX Capital, Inc. "The travel industry is changing rapidly, and we believe that by partnering with us, Pegasus will increase its flexibility to address emerging demands and new opportunities."
Global Travel Exchange has developed and implemented several Extensible Markup Language (XML) interfaces, in accordance with OTA specifications, to ensure a direct connection between Global Travel Exchange and suppliers of travel services. Global Travel Exchange's high-quality direct connection will provide clients with access to higher quality information, translating into more convenience for travelers and travel arrangers.
Global Travel Exchange will receive revenue through its e-commerce platform from a majority share of each transaction, from set-up and licensing fees and from ongoing bookings fees.
About GTREX Capital, Inc.
GTREX Capital, Inc. (http://www.gtrexcapital.com) is a Business Development Company pursuant to the Investment Company Act of 1940 whose core focus is to assemble an investment portfolio of investments into businesses related to the travel industry.
Its initial portfolio investment, Global Travel Exchange, Inc., provides a service that enables direct access to reservation systems of major travel suppliers such as airlines, cruise lines, hotels, car rental companies and providers of other travel amenities. Through a software solution that searches for the availability and price for the itinerary suggested by the buyer over all direct connected suppliers and existing Global Distribution Systems (GDS), Global Travel Exchange presents the results in an easy to understand format. Besides improved brand and revenue management, suppliers save distribution costs while providing efficient service to major customers through a direct connection. Global Travel Exchange is positioned to market its services through travel distribution partners, contributing to the expansion of the Company's marketing channels and expedite revenue growth.
Safe Harbor Statement
This release contains forward-looking statements with respect to the results of operations and business of GTREX Capital, Inc., which involves risks and uncertainties. The Company's actual future results could materially differ from those discussed. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward looking statements be subject to the "Safe Harbors" provision of the Private Securities Litigation Reform Act of 1995.